Rep. Tierney a supporter of summer jobs plan

PEABODY – Summer job programs for youth must be expanded, says U.S. Rep. John F. Tierney, a Salem Democrat who joined the majority of his House colleagues in voting for the Disaster Relief and Summer Jobs Act of 2010.The legislation is designed to expand this summer’s youth job programs and continue assistance to America’s small businesses under terms established by the Recovery Act.The measure passed the House with a vote of 279-175 and is now awaiting action in the Senate. The vote also ensures that the Federal Emergency Management Agency (FEMA) is adequately funded to assist with the nation’s record snowfalls and recent floods.”While we begin to recover from the deepest economic crisis since the Great Depression, it’s incumbent upon us to find every avenue of relief that we can for our small businesses and potential job-seekers,” said Tierney, adding that the bill will help create jobs on the North Shore.According to Mary Sarris, executive director of the North Shore Workforce Investment Board (WIB), the federal funding translates to an estimated 4,000 jobs.Specifically, $600 million in the legislation is allotted to support more 300,000 jobs for youth ages 16 to 24 through summer employment programs.”This age group has some of the highest unemployment levels, 25 percent for those aged 16 to 19,” Tierney said.The funding allows local WIBs to expand successful summer jobs programs that were funded in the Recovery Act, such as those on the North Shore where over 400 additional jobs were created last summer because of the additional federal funding.Further, $60 million will be put toward extending the Recovery Act small business lending program for another month. In the past, this funding helped companies on the North Shore such as Rockport’s 7th Wave restaurant, which hired 15 employees when it opened last summer.The program also eliminated the fees typically charged for loans through the U.S. Small Business Administration and increased the government’s guarantees on loans from 75 percent to 90 percent. These provisions saved the 7th Wave restaurant owners $11,500 in fees on their SBA-backed loan that could be reinvested in the business, said Tierney spokesman Catherine Ribeiro.The disaster relief funding in this bill provides $5.1 billion to ensure that FEMA can continue its efforts helping communities recover from recent disasters. Due to lack of funds, FEMA has about $2 billion in projects on hold. Meanwhile, the National Weather Service and the Army Corps of Engineers estimate that one-third of the United States will be faced with the possibility of flooding this spring, as has already been experienced on the North Shore.